Others stick with spreadsheets but update them monthly instead of waiting until tax season.The biggest mistake isn’t the method — it’s falling behind.

There is also another big exception that I don't think was mentioned in this thread (but it was in Michael's linked thread), you don't have to report payments that were made by credit card or certain other payment methods. 

But if investors are already willing to invest out of state, why isn’t there more discussion around forming small capital-only JVs with one or a few other investors to buy higher-quality assets instead?

.• Owners being more intentional about rent increases (steady, smaller adjustments vs big jumps every few years)• Investing in unit quality so higher rents are actually justified• Cities encouraging more housing supply (especially workforce housing)• And better screening, longer-term tenant retention to reduce turnover costsOne thing I’ll add from the property management side: rising rents also mean rising expectations.

Focus on cash flow, location, and tenant quality rather than fancy upgrades.

The IRS recognizes 6 methods for conducting a cost segregation analysis. 

In my opinion, the biggest impact on whether or not this will or not depends on the quality of the tenant.The easiest metric to rank tenant quality is credit score. 

I would put the 3-5% down, fix it up while living in it and then continue, often times when you are refinancing they will only refinance you at a 75-80% LTV ( I am not a lender so could be wrong) but that would make the numbers better either way if you just did the house hacking/nomad method. 

When using the BRRRR method, I always provide a list of the improvements made, the cost of the improvements, the comps I pulled and my estimated ARV.

How long did it take to see quality deals?